The former couple - who announced they were to divorce after five years of marriage last month - have reached an undisclosed agreement to end their marriage, but insiders insist reports the actress is to receive a $50 million lump sum are "ridiculous".

However, the sources tell TMZ.com that Tom, 50, is paying "a lot of money" in child support for their six-year-old daughter Suri, with payments for the next 12 years amounting to "more than $10 million".

Katie, 33, has sole custody of Suri but the `Rock of Ages` actor will have substantial visitation rights.

Speaking about their split, Scientologist Tom and Katie - who registered at a Catholic church in New York this week - released a statement saying: "We are committed to working together as parents to accomplish what is in our daughter Suri`s best interests. We want to keep matters affecting our family private and express our respect for each other`s commitment to each of our respective beliefs and support each other`s roles as parents."
sections: Celebrities